The FINancial Accounting Software system is your complete financial management system with a customizable modular setup. In addition to the standardized applications listed below there are several custom applications available, allowing the system to specifically cater to any industry. The list of available customized applications includes:
Ease of Use - The FINancial Accounting Software is designed with ease of use in mind. In any application you can setup customers, vendors, employees, bank accounts, credit card accounts, petty cash accounts, loan accounts, general ledger accounts, departments, etc. at the time you are entering in the transaction that would initially require it. So while other software packages require you to exit the application to setup the appropriate account, this system allows you to setup any applicable accounts on-the-fly. Furthermore, the menu-driven system makes for an easy to navigate system, so you do not waste time searching for commands.
Real Time Updating - The FINancial Accounting System was developed as an online, real time system. All files are updated while you enter transactions. There is no need to run a posting program before your account balances are updated. They are kept up-to-date automatically. An option of printing Financial Statements after you enter the last transaction of the day is easily available.
Control - The system itself is full of control measures, ensuring you are protected from entering invalid or incorrect data into the system. You are able to setup specific dates that transactions must fall into. You can setup required fields that must be entered in order for a transaction to submitted. The system prevents duplicate records from being entered. i.e., duplicate customer invoices, vendor invoices, bank checks, customer payments, and general ledger journal entries. Additionally, you are able to setup sequential numbering for check numbers and invoice numbers, which will then cause the system to automatically assign numbers to corresponding transactions. Finally, the FINancial Information System has the most complete audit trail to allow the user or an auditor to be able to easily trace any financial transaction back to its source document.
Security - In addition to the multiple levels of control, the FINancial Accounting System is full of security features as well. Each user is given a user number and password needed to access the system. If a user fails to successfully enter their password or user name, after three unsuccessful attempts they are locked out of the system for 15 minutes. This time delay technique discourages unauthorized personnel from trying to gain access to your system. Also, all unsuccessful login attempts are captured by the system to allow you to review logins for unusual entries. The system also allows you to setup each user with access to specific applications. Meaning employees can only see the information they need to successfully complete their tasks. The system then logs the activity of each user, which can be printed or displayed at anytime. Also, certain sensitive functions are restricted to the owner of the system, and the owner must enter a valid owner password to gain access to these critical functions.
The Accounts Payable application is loaded with features to make your payables processing and tracking more simplistic and organized. This application uses a very specific and unique method of invoice identification for tracking vendor invoices. This method gives the system the ability to trace vendor activity by invoice, allowing you to generate payables reports for any date span at any time. This will then allow you to analyze your vendor payment history and establish better credits with your biggest vendors. The system will allow you to write-off old invoices at any time and automatically reverse the original distribution. If you desire you are able to charge the write-off to any account in your General Ledger. The system can be customized to give you the ability to produce purchase orders, track encumbrances, and integrate with your inventory. Some of the additional features of the system can be seen below:
The accounts receivable application will give you everything you need to ensure all of your customers pay their outstanding receivables. You are able to enter invoices for one time customers without setting up a separate customer account. The receivables application uses a very specific invoice identification method. This is done to give you the ability to trace customer activity by invoice and generate reports of accounts receivable as of any date at any time. This is done to allow you to analyze customer payment history. You are then able to use this information to establish better credit for your best paying customers. The ability to either write-off or carry-forward differences between the invoices paid and the payment amount at the time the payment is applied to the invoices paid, to simplify this accounting method. This method also provides the best audit trail and accountability of accounts receivable. Further features of the system can be seen below:
The Bank Account application will allow you to maintain a virtually unlimited number of bank accounts (i.e. savings, checking, certificates of deposit, money markets, etc.). If have infrequent purchases you can enter and print checks without having to set up an account for the vendor. Creating checks to vendors is done by easily selecting the invoices you wish to pay. The system allows you to take a discount before it determines the amount of the check and it prints the invoices paid on the check stub. If the number of invoices paid exceeds 16, the system prints a summary on the check stub and allows you to print a remittance advice report showing the invoices paid after all checks have been entered and printed. You are able to calculate and reconcile bank balances for any date. This data can then be used to create the following reports: bank reconciliation report, bank deposits and/or checks which cleared the bank, deposits in transit, and outstanding checks; each of which can be exported in a text file or printed to a hard-copy. Some additional features of the Bank Account application can be seen below:
The General Ledger application gives you the ability to track an unlimited number of general ledger accounts. The system is a date driven financial reporting system that allows The General Ledger application gives yout eh ability to track an unlimited number of general ledger accounts. The system is a date driven financial reporting system that allow syou to specify the dates of any reporting period. Since the only time you actually close the books is at the end of a fiscal year, you have complete flexibility for financial reporting purposes. You can prevent individuals from entering transactions in prior reporting periods to preserve your financial integrity without actually closing those periods.
The General Ledger application allows you to setup an account type (asset, liability, equity, revenue, expense), a department and an account code. The account is then assigned with a reporting classification to group them for reporting. Hence, you are able to keep a detailed accounting summary for your business with the ability to produce summarized financial reports. Each individual account can then have an annual budget associated with it to keep track of all spending.
Every other application automatically integrates with the general ledger, and updates general ledger info as transactions are posted. This means that the only thing you need to enter in the general ledger application is standard general journal entries for depreciation, amortization, prepaid expenses, accruals, etc. To further save time, the general ledger can be setupt o sequentially number all journal entries subsequently.
The system allows you to display, print or export:
The General Ledger application allows you to set up an account type (asset, liability, equity, revenue, expense), a department and an account code. The account is then assigned with a reporting classification to group them for reporting. Hence, you are able to keep a detailed accounting summary for your business with the ability to produce sumarized financial reports. Each individual account can then have an annual budget associated with it to keep track of all spending.
Every other application automatically integrates with the general ledger, and updates general ledger info as transactions are posted. This means that the only thing you need to enter in the general ledger application is standard general journal entries for depreciation, amortization, prepaid expenses, accruals, etc. To further save time, the general ledger can be set up to sequentially number all journal entries subquentially.
The system allows you to display, print or export:
The Loan/Credit Card Account application allow you to maintain an unlimited number of loan accounts, be they credit cards, notes payable, mortgages, lines of credit or any of the like. Loan proceeds can be entered and tracked with periodic interest rates/payments, credit card charges and various payments on account. This application gives you everything you need to calculate and reconcile loan balances for any date. You can then print, export, or display the following reports:
The payroll application will allow you to pay an unlimited number of employees and process their annual income tax returns. The system gives you the ability to setup taxing options for your employees, allowing you to handle virtually any unique taxing requirements including, but not limited to, flat rates, additional amounts and tax exemptions. With this application you are given the options to setup multiple deduction options that will be eliminated when the deductions limit is reached. The system also allows you to utilize a pay scale table to pay employees based on grade/step and based on the grade/scale of the work they performed. The system allows you to produce the following reports:
The Petty Cash application is loaded with features to help you manage you cash funds:
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